Tough job: Khosrowshahi will have a harder time severing his company’s broader relationship with a government that’s now been implicated in the grisly murder of a journalist. — Bloomberg
SAN FRANCISCO: Even as Uber’s lawyers finalised the details of the deal, they still couldn’t quite believe it would really happen. The Saudi Arabian government was set to give the San Francisco-based startup US$3.5bil, an astronomical amount.
The company’s legal team had to double-check that it was even possible to send that much money in a single wire transfer. But on June 1, 2016, the Saudi Public Investment Fund sent Uber Technologies Inc the cash in one lump sum. It was the largest single investment from a foreign government to a venture-backed startup ever-and still is.
Limited time offer:
Just RM5 per month.
